Federal Home Loan Bank Awards Funding to Enhance Affordable Housing Stock in New Hampshire
NEC member the Federal Home Loan Bank of Boston (FHLB) has awarded four separate affordable housing projects in New Hampshire with $6.7 million in funding. Through a combination of grants, loans, and subsidies, the costs of construction, acquisition, and rehabilitation will be provided in order to preserve and create 133 units of affordable housing.
Funded through the FHLB’s Affordable Housing Program, these projects will improve or establish rental and homeownership units for individuals and families that earn up to 80 percent of the area median income. With projects in Ashland, Farmington, Hanover, and Portsmouth, this program aims to benefit seniors, individuals with disabilities, and households of a variety of income levels.
Edward A. Hjerpe III, the President and CEO of FHLB Boston said, “In partnership with our member financial institutions, we are proud to provide this funding which greatly benefits individuals and families struggling to afford housing and supports economic development throughout New England.”
The Council thanks FHLB for its investment in communities across New Hampshire and its efforts to improve access to affordable housing for individuals and families in the Granite State.